Airbus Achieves Strong Operational Progress:
Amidst a challenging environment, Airbus reported robust nine-month financial results, highlighting progress in its operational plan.
Leadership Insights:
Guillaume Faury, Airbus CEO, noted, “Nine-month earnings reflect higher commercial aircraft deliveries,” citing good performance in helicopters and charges related to satellite development programs.
Moreover, he highlighted the company’s optimism, stating, “Demand for our commercial aircraft is very strong,” acknowledging challenges in the supply chain.
Commercial Aircraft Success:
Gross commercial aircraft orders reached 1,280, showing resilience despite cancellations, with Airbus Helicopters registering 191 net orders.
Consolidated revenues surged by 12%, totaling €42.6 billion, driven by increased commercial aircraft deliveries and higher demand.
Segment Performance Challenges:
Airbus Defence and Space faced a 6% revenue decrease, attributed to a backloaded A400M delivery profile and updated satellite development programs. To adapt, a transformation of the division was initiated.
Financial Metrics and Growth:
Consolidated EBIT Adjusted reached €3,631M, marking substantial growth from the previous year’s €3,481M. However, this metric excludes material charges and profits, providing clarity on the business margin.
Navigating Risks and Transformation:
EBIT Adjusted at Airbus Defence and Space declined to €-1 million, reflecting challenges and charges related to satellite development programs. Meanwhile, ongoing risks include technical qualifications, costs, aircraft reliability, and meeting revised baseline volumes.
Airbus initiated a Defense and Space division transformation, emphasizing rigorous program execution, risk rebalancing, and accountability reinforcement for improved competitiveness.
Financial Outlook:
Consolidated self-financed R&D expenses totaled €2,167 million, indicating continued investment in innovation. The gross cash position stood at €22.4 billion, ensuring financial stability.
Maintaining Guidance and Closing Agreements:
Airbus maintained its guidance for 2023, targeting 720 commercial aircraft deliveries, EBIT Adjusted of €6.0 billion, and Free Cash Flow of €3.0 billion.
On October 26, 2023, Airbus received closure notice from the US State Department, concluding the 2020 Consent Agreement fulfillment. The conclusion of deferred prosecution agreements with the UK, France, and the US signifies Airbus’ commitment to compliance and integrity, enabling sustainable growth.
